Pandemic Stress Hitting Home

Posted By: Jon Lowder Blog ,

In the most recent issue of NAA's Industry Insider is an article titled "At a Tipping Point" that will probably hit home with many property managers, because the focus is on the additional stress being put on properties and on-site staff during the COVID-19 pandemic. Here are just a few highlights:

At many apartment communities, trash and package volumes have been an extra burden on building infrastructure and staff. 

For instance, at the Boca Raton, Fla.-based Altman Companies, an operator of approximately 8,000 apartments, “we’ve been averaging about 20 to 30 percent more trash hauls than normal, and package volumes are a big strain in the current environment,” says Chief Operating Officer Tim Peterson. “The exponential growth in [deliveries] during the pandemic has made package locker solutions designed just four or five years ago obsolete. We are rushing to convert underutilized spaces into additional package rooms with secured entry and electronic monitoring, but in the meantime our front offices have had to deal with a significant overflow of packages.”...

Outlays for cleaning and personal protective equipment (PPE) are also hitting apartment operators’ budgets. 

The Altman Companies saw costs go up when it implemented new cleaning and PPE protocols at its communities. “Additional expenses for contract services for cleaning, PPE, hand sanitizer and new signs for social-distancing requirements added about 10 percent to our expenses,” says Peterson, who notes that the company has cut back in other areas, such as free coffee in lobbies and towels for fitness centers, to lessen those impacts [a strategy many apartment operators have been following]. “After we did that, the amount drops closer to 5 percent.”...

You can read the full article here.